Bad Credit Business Loans - What Do Lenders Look At On Your Application?

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If you are looking for bad credit business loans, it is important to know what lenders look for on your business loan application.

You should know that having bad credit does not automatically disqualify you from getting business funding.

Especially, if you are working with a lender like First Choice Business Capital as we specialize in business loans with bad credit.

However, your credit history is something we will review to determine if you've ever had a foreclosure, bankruptcy or any other type of red flag.

Annual Revenue - This is probably one of the most important factors we look for when reviewing bad credit business loan applications.

The minimum monthly income should be $10,000 and it should be relatively consistent.

Cash Flow - Every lenders primary concern is your ability to make loan payments.

By demonstrating that your business has good cash flow, it improves your chances of qualifying for the loan.

Profitability - Even if your annual revenue is high and you have enough cash flow to make payments, lenders will want to know if your business is profitable.

Although, this is not a deal breaker, being profitable will help your chances of securing the loan.

Existing Debt - the last thing lenders will look at is to see if you have any current debt obligations.

For First Choice Business Capital, approving you for a loan even if you have an existing one is not an issue.

However, we do evaluate the risks to ensure that you can realistically pay it back.

If you have bad credit and need a business loan, please call us today to speak to one of our loan specialists.

We will be happy to help you get the best loan option for your specific situation.

Call 877-235-0672
FirstChoiceBusinessCapital.com

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